Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Pro-Gov’t Columnist Suggests Setting Turkey’s Silivri Prison Ablaze To Kill Inmates From Gülen Movement

Fatih Tezcan, a pro-government public speaker and columnist, said in a video message posted on social media that people should gather in front of Silivri Prison, which mainly hosts people jailed over links to the Gülen movement, and set it on fire, similar to the Madımak Hotel in Sivas when an angry mob in 1993 torched the hotel, killing 37 people, mostly members of the Alevi sect.

Fethullah Gulen Talked to Kurdish TV on Kurds, human rights and Erdogan

Fethullah Gulen Talked to Kurdish TV NRT on Kurds, human rights and Erdogan.

Where is Turkey going? (2)

Gülen movement supports a critical approach as a fundamental aspect of knowledge and faith. Furthermore, it considers science and mathematics to be especially necessary to a devout Muslim fulfilling his religious and civil duties and to improve the economic situation of his family and community.

Why is the Hizmet community alone?

Some people I have talked to recently have started to ask the following question, which is also discussed on social media from time to time: Why is the Hizmet community still alone even though it is clearly on the right track?

My Father, Academic, Arrested In Turkey Purge

13 days have passed since my father was taken from us by the police and we still did not have a chance to speak with him. His lawyers predict that it may take up to at least six months until he goes to the court. The most painful moment was when I saw in the news that 14 militants linked to ISIS, from whom the police captured AK-47s, were released on the same day. Turkey now views my father and his colleagues more dangerous than ISIS militants.

More than 60 countries attend panel organized by GYV at UN

Representatives of more than 60 countries attended a panel discussion organized by the İstanbul-based Journalists and Writers Foundation (GYV) at UN headquarters in New York.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Fethullah Gülen’s Eid message: Let’s pray for each other

Why was Mr. Gulen’s name brought up in the coup attempt in Turkey?

The Role of The Gulen Movement in the Task of Eco-Justice

Philippine House speaker receives Turkish school delegation

Local priests participate in landmark interfaith trip to Turkey

New book looks closer into Hizmet Movement with questions, answers

Gulen – Erdogan History in 2 minutes

Copyright 2026 Hizmet News